How To Buy A Car Regardless Of Your Credit Standing

Are you in the market to buy either a used or a new car? There are many options out there when it comes to buying a car and it will all depend on whether you are going to finance or you are going to buy with cash. It will also depend on what your credit looks like if you are going to be financing a vehicle. Here is how to buy a car regardless of what your credit situation is.

First, if you are purchasing a car with cash, then your credit no longer matters. All you need to do is find the vehicle you want, negotiate a price, pay the price, and drive home in your new vehicle. sure you will still need to call and have your new vehicle added to your insurance. You might also have to get a temporary license plate, but other than that it is a pretty easy process.

Second, if you are financing and you have very good to perfect credit, then you will be able to get a vehicle very easily. You can go to any bank, any dealership, or anywhere that finances vehicles and get your loan. This gives you many options and you should shop around for the best deal for you. You still need to negotiate your prices, get your insurance changed, and get a temporary license plate, but your process will be easy and painless because you have good credit.

Last, if you have bad or not so good credit, then you either need one of the many special lenders to help you with how to buy a car or you need to use a buy here pay here car lot. It just depends on your credit situation and how much you can put down. If you have a few thousand dollars you can put down, then most dealerships and banks will work with you, but if you have under $1,000 to put down you will probably need to go to a buy here pay here lot.

Used Auto Financing - How To Get The Best Used Auto Financing

Are you in the market for a used car and you need financing to make the purchase? Do you know your credit so that you know what type of deal you should be getting? Since used auto financing is based on credit, income, vehicle, and down payment it is necessary that you know your credit. Here are some other things you should know when it comes to used auto financing.

First, you need to know what to expect. If you have great credit, which is a FICO score over 700, then you can pretty much get any deal out there. Your rate should never make it over 5% and if it does you need to be talking to a different lender because it is too high.

If you have good credit, which is a FICO score of over 650, then you can get a pretty good rate, but it will not be the best. You might have to put a bit more down, but getting used auto financing will not be a problem.

If you have ok credit, which is a FICO score between 580 and 649, then it will be a bit more difficult. You will probably need a substantial amount down of at least 10% of the value of the car and your rate is going to be in the double digits.

If you have bad credit, which is anything below a 580 FICO score, then you are going to struggle to find financing. You will need a couple thousand down, a buy here pay here lot, or some type of special lender to help you out.

If you also have repossessions, then skip everything else and head right to your buy here pay here lot because they will be the only ones that will help you with used auto financing, most likely.

Finding the right auto financing will help you in many ways. Even with bad credit you can get the financing you need for a new or used vehicle. Find out more about auto financing and loans by visiting this website:

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